Foreign-owned companies ‘should pay to trade’
Saturday 27th November 2010, 2:56PM GMT.
British Home Stores would be one of the businesses affected if Deputy Labey's proposition is approved
FOREIGN-OWNED companies like Normans, the JEP and BhS should pay to trade in Jersey when ordinary Islanders are facing GST at five per cent on essentials like food and clothes, says Deputy Carolyn Labey.
She has lodged an amendment to the Budget, the States debate on which is due to begin on 7 December, that calls on the Treasury Minister to find a mechanism to make the companies pay into Island coffers.
Under the zero-ten tax regime, non-finance companies owned by non- residents pay no tax in Jersey. The shareholders of companies who are resident in the Island pay tax on dividends they receive or are deemed to be eligible for, whereas foreign owners pay no such tax.
Deputy Labey’s proposition says: ‘I am afraid that we will never take the people of the Island with us whilst we seek to impose new taxes like GST, and then increase them at the first opportunity, while we fail to address the issue of taxing or raising a charge on foreign-owned companies at a similar rate to that of our local companies with local shareholders.’
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Whilst I applaud the sentiment I fear the rest of Europe will see that as a hypocritical move by the undeserving people of Jersey. We, through our finance industry, have been living of the backs of corporate Europe for years. Payback time I fear.
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Oh dear What an ridiculously stupid deputy.
They do pay, they provide employment to people, and pay taxes.
Are you out of yoru mind?!?!? What do you want, unemployment. There are a number of States memebrs who seem to want to destroy Jersey, and bring in huge unemployment. Labey / Southern / The two Pitmans.
Thankfully they will never get near the levers of power. You might not like Ozouf, but he keeps this island ticking!
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Woopee! And who do they pass the cost onto? I’ve just bought a duvet and cover for a friend from Argos, and posted it to Jersey. She asures me that it is still about half the cost of a duvet alone in Jersey! It actually cost more to post the catalouge than the goods.
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Europe finds zero ten ..harmful……..
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If Real Truthseeker cares to read his JEP tonight he will see that Phillip Ozouf has stated that he will address this issue.
The States need every penny they can get their mitts on plus there are a lot of cuts in the pipeline.
Middle Jersey who pays the taxes is going to get a whacking from both sides.
Phillip Ozouf has to command the support of the house to get his budget through and he needs the support of the island as well in the long term.
Hence the tacking on GST with exemptions for food and heating and a 6% rate on everything else that will make the tax slightly less regressive and the nod to Deputy Labey tonight on the taxing of companies.
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2)And you think they would cut headcount over here if they payed a modest 10% of corporation tax compared to 28% in the UK? The likes of BHS over here are amongst the most profitable stores in that firm’s operations. Add to that the fact that Jersey structures are used to funnel profits out via dividends to Tina Green in Monaco (a massive tax saving via aggressive tax avoidance) and I think Sir Philip G owes us a tad more tax. They always used to pay 20% on adjusted profits pre zero-ten but I appreciate this may have been before we were blessed with your presence here.
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This just demonstrates once again that the intellectual standard of the people in the States come the next elections just has to change.
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Truthseeker – what has zero-ten got to do with this~?
Like all your posts, whether they are ridiculing a States members sexual preference with bigoted comments, or making illogical points as to the debate at hand, you are so wide of the mark.
Extremists like you should have an ASBO put out on them. Your inconsistencies are astounding.
I woudl so love to debate you in a public forum.
Pip: He won’t and didn’t address the issue. Foolish aren’t you.
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“This just demonstrates once again that the intellectual standard of the people in the States come the next elections just has to change.”
Does anyone know whether candidates for election have to be living humans? I have several items in my fridge that could do a better job than Dumb, Dumber and Dumberer.
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“Pip: He won’t and didn’t address the issue. Foolish aren’t you.”
Page 6 of the Jersey Evening Post 27\11\2010
“The Treasury will seek to find a way to tax the owners of foreign companies like Normsns, Connex and de Gruchy, Senator Phillip Ozouf has claimed.”
If you want to get involved in politics you will have to start reading your JEP, the States Assembly website and other resources.
Senseless right wing sloganising will butter no parsnips at the ballot box!
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